Registered: Sep 2001
03-21-11 03:12 AM
Quote from austinp:
imo there are two main benefits for someone to attend a live trading room: validation and education
Showing a live dome is part of the validation process, it solidifies hope = faith = belief that something can work and actually does work.
However, the other edge of that sword is people tend to fixate on the dome long-term and tune out what's happening on their chart. They need to learn reading the chart, anticipating the setups and trusting the execution on their own without following a "leader" who enters first.
So imo it's valuable to run a live trading operation short-term for brief periods of time to validate and solidfy belief. That serves one purpose for value. Long-term imo it's more important to mark up streaming charts, show where AND why a setup is actionable, discuss options for entry - stops - exits, etc
The surest waste of time for any live room is trying to be a signal caller that subs are supposedly expected to follow along and take the trades in blind faith, robotic fashion. That has never worked, can never work and will never work because of basic human nature regardless whether any room leader makes profitable calls or not.
Fact: trading is a damn tough business which takes time, effort, more time and more effort to master than anyone ever expects in the beginning. Lots of different paths to that end result, relatively few people make it there from all the half-hearted attempts that try.
Well stated Austin.